Hormel Foods Corporation (HRL) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP increased its stake in shares of Hormel Foods Corporation (NYSE:HRL) by 12.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,830 shares of the company’s stock after buying an additional 6,661 shares during the period. Wellington Management Group LLP’s holdings in Hormel Foods Corporation were worth $2,037,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of HRL. Dimensional Fund Advisors LP raised its position in shares of Hormel Foods Corporation by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,135,550 shares of the company’s stock valued at $39,532,000 after buying an additional 34,431 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Hormel Foods Corporation during the fourth quarter valued at $304,000. Advisor Partners LLC raised its position in shares of Hormel Foods Corporation by 1.2% in the first quarter. Advisor Partners LLC now owns 6,897 shares of the company’s stock valued at $239,000 after buying an additional 79 shares during the last quarter. Swiss National Bank raised its position in shares of Hormel Foods Corporation by 20.2% in the first quarter. Swiss National Bank now owns 1,413,994 shares of the company’s stock valued at $48,967,000 after buying an additional 237,500 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Hormel Foods Corporation by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 379,047 shares of the company’s stock valued at $13,195,000 after buying an additional 18,241 shares during the last quarter. 38.13% of the stock is currently owned by institutional investors.

Shares of Hormel Foods Corporation (HRL) opened at 33.19 on Tuesday. The firm has a market capitalization of $17.54 billion, a P/E ratio of 20.24 and a beta of 0.56. Hormel Foods Corporation has a 52 week low of $32.26 and a 52 week high of $40.00. The firm’s 50-day moving average is $34.33 and its 200-day moving average is $35.04.

Hormel Foods Corporation (NYSE:HRL) last announced its quarterly earnings results on Thursday, May 25th. The company reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.01. Hormel Foods Corporation had a net margin of 9.42% and a return on equity of 19.57%. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the company earned $0.40 earnings per share. The company’s quarterly revenue was down 4.9% on a year-over-year basis. Equities analysts anticipate that Hormel Foods Corporation will post $1.66 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 17th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, July 13th. Hormel Foods Corporation’s dividend payout ratio is presently 41.46%.

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Several equities analysts have recently weighed in on HRL shares. Zacks Investment Research raised shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Monday, March 20th. BMO Capital Markets reissued a “buy” rating and issued a $45.00 price objective on shares of Hormel Foods Corporation in a research report on Thursday, March 30th. Mizuho began coverage on shares of Hormel Foods Corporation in a research report on Wednesday, June 7th. They set a “neutral” rating and a $35.00 price target on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $34.00 price target on shares of Hormel Foods Corporation in a research report on Monday, June 12th. Finally, Credit Suisse Group lowered their price target on shares of Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, May 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. Hormel Foods Corporation has an average rating of “Hold” and an average price target of $40.27.

In other news, insider Thomas R. Day sold 11,139 shares of the company’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $33.43, for a total transaction of $372,376.77. Following the sale, the insider now directly owns 24,838 shares in the company, valued at $830,334.34. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Luis G. Marconi sold 1,300 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $34.81, for a total value of $45,253.00. Following the sale, the insider now owns 22,532 shares in the company, valued at $784,338.92. The disclosure for this sale can be found here. Corporate insiders own 3.54% of the company’s stock.

Hormel Foods Corporation Company Profile

Institutional Ownership by Quarter for Hormel Foods Corporation (NYSE:HRL)

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